Interested in accounting - but haven't a clue where to start

dulpit

Hey all,

I'm currently working in a job that is totally killing my spirit, it's time for me to sort out my career I think (just like that :pac:). I did Software Development in college, didn't enjoy it at the end, but graduated and got a job working in a company as a business analyst - and I hate it now. I've always been interested in accounting on a day-to-day level (i.e. keeping budgets/etc), and loved accounting as a subject in school (A1 in leaving and all that). I nearly did Commerce in UCC but then went a different route.

I'm interested in what people think is a good option for myself. I like the idea of doing day-to-day accounts, and also preparing accounts on a yearly basis. I'm not sure what else beyond this interests me, as I have no experience.

What's a good place to start? Is it recommended to try and get work experience prior to starting on study? This could be difficult, as i need a job to live, so will be studying part-time at night.

I'm based in Cork, I saw Griffith have an open night tonight so I'm going to pop along, but I'd appreciate any sort of advice that boardsies might have...

Cheers.

myshirt

My advice:

Run for the hills. And keep running as fast as you can.
Accountancy will tear out your soul; and gobble it up for breakfast.
Many a good man has fallen.

Ok, on a serious note, plainly you are looking at 3.5 years of training, on verrry low wages. In addition to this you must do exams. It averages a 60 hour week.

You can do CPA, IIPA, ICAI, or ACCA. These are different accountancy bodies that are authorised.

Balls out of the bath, the premium qualification is ICAI. Don't let anyone tell you anything different.

Look up the elevation programme with ICAI. See does that tickle your fancy.

Other than that, read the online brochures from the accountancy bodies, they are quite comprehensive.

Really think it through.

April O Neill

myshirt wrote: »

My advice:

Run for the hills. And keep running as fast as you can.
Accountancy will tear out your soul; and gobble it up for breakfast.
Many a good man has fallen.

Ok, on a serious note, plainly you are looking at 3.5 years of training, on verrry low wages. In addition to this you must do exams. It averages a 60 hour week.

You can do CPA, IIPA, ICAI, or ACCA. These are different accountancy bodies that are authorised.

Balls out of the bath, the premium qualification is ICAI. Don't let anyone tell you anything different.

Look up the elevation programme with ICAI. See does that tickle your fancy.

Other than that, read the online brochures from the accountancy bodies, they are quite comprehensive.

Really think it through.

As someone who is starting a PGDip in accounting soon, this isn't exactly encouraging.

Brewie

myshirt wrote: »

My advice:

Run for the hills. And keep running as fast as you can.
Accountancy will tear out your soul; and gobble it up for breakfast.
Many a good man has fallen.

Ok, on a serious note, plainly you are looking at 3.5 years of training, on verrry low wages. In addition to this you must do exams. It averages a 60 hour week.

You can do CPA, IIPA, ICAI, or ACCA. These are different accountancy bodies that are authorised.

Balls out of the bath, the premium qualification is ICAI. Don't let anyone tell you anything different.

Look up the elevation programme with ICAI. See does that tickle your fancy.

Other than that, read the online brochures from the accountancy bodies, they are quite comprehensive.

Really think it through.

From reading the quoted post above, this describes the route taken by someone entering one of the Big 4 on a 3.5 year contract to qualify with the ACA.

I can not stress enough that this is only one path to take in a journey to becoming fully qualified.

My own personal career path took me through an Accounting & Finance degree and on completion of this I joined a medium sized aaccountant and auditor firm ( 5 partners). I choose to join the ACCA. 14 exams in total, 9 "foundation" exams which all must be completed and then 5 "professional" exams. OF the 5, the first three are mandatory, followed by a choice of 2 from 4.

As the OP said they are interesed in the day to day (industry) accounts work and the preparation of year end accounts (general/audit practice).

If you have no experience and wish to take the practice route, then you can expect 3 years (ACCA) to qualify depending on your exam success. Salary would be between 18k - 23k depending on the size of the firm & area it is based. The hours per week will vary too. There are pro's and cons to the size of the firm you train with, such as 9-5 working week vs 60 hour weeks in the big 4, the bigger the firm the better the salary etc. Small firms generally will give you a broader range of experience where as Big 4 will be more specialised. However training with a Big 4 will definitely open more doors for you when the newly qualified accountant searches for their first job post their qualifying contract.

Should you wish to persue a career in industry, you will find a company to work for who will train you in the industry side of things and they will generally wish you to join CIMA (CIMA is an accounting body which aimed towards Industry accountancy). Wages in industry tend to start higher than practice and climb faster but generally speaking will not hit the same heights as practice accountants/auditors after 8 or 9 years unless your are working for a big company in a senior position.

Most if not all accountancy bodies will give excemptions for their exams depending on the the degree/masters you hold.

I didnt touch on a number of other items of options here becuase honestly, anyone could argue or debate the many routes to becoming a qualified accountant and there are so many job roles and areas where the qualified accountant can work.

TDLR: Do not be put off by the quoted posted, it is only 1 of many many paths to working and qualify as an accountant.

myshirt

@OP and April O'Neill

Apologies, meant to caveat my response when I got to a computer later.

What I want to say is that this is just my (one guys) response; try get as many as you can. If you have any specific questions, more than happy to oblige.

Brewie gave some good advice there.

Ultimately, accounting is a great career choice; it will open many doors for you, but it can be a testing and commanding process.

smcgiff

Some good advice above...

Just to add my two cents worth.

I think accountancy is still one of the best professions to enter.

Better than law, construction or teaching.

IT seems to be holding up. Don't know enough about medicine.

Research all the accounting bodies and then make up your mind.

After doing your research you can come back here and ask questions.

Good luck